Published by mark itwired
Posted on October 6, 2021
3 min readLast updated: January 31, 2026
The agricultural equipment market is set to grow at a 4.8% CAGR by 2030, driven by technology like AR and government subsidies, despite COVID-19 challenges.
The global agricultural equipment market is anticipated to foresee a CAGR of 4.8% during the forecast period 2020-2030. The growth can be primarily attributed to unusually lesser arable land, holistic aid to high crop yield, as well as higher dependability of agrarian societies. However, the market demand has witnessed a slump amid the COVID-19 crisis leading to massive disruptions in the supply chains and labour shortages.
“AR will appear as the game-changer in the global market, since social distancing is becoming the new normal during the COVID-19 outbreak. Manufacturers are capitalizing AR technologies to address various issues in the agricultural sector. Furthermore, after-sales engineer can look at the problem at the site and assist the local technician consequently.” concludes the FMI analyst.
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Agricultural Equipment Market – Key Highlights
Agricultural Equipment Market – Drivers
Agricultural Equipment Market – Restraints
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COVID-19 Impact on the Market
The agricultural equipment market has encountered an adverse impact due to the COVID-19 outbreak. While labor shortages are obligating farmers to fall back to mechanization, dealerships of agricultural equipment are closed and credit lines are cut off. This is inducing an adverse impact on demand for tractors as majority of them are bought on credit. However, contract farming is assisting small-scale and poor farmers to alleviate the virus impact on secure supply chains and their revenue earnings.
Competitive Landscape
Key market players in the agricultural equipment market are Deere & Company, AGCO Corp, CLAAS KGaA mbH, Bucher Industries AG, EXEL Industries, Kubota Corporation, and CNH Industrial N.V.
Players are set to the age demographics of farmers in matured regions which is fueling structural changes in a farm set ups. Furthermore, leading players are falling back to automation of their equipment for higher profit revenue.
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The global Agricultural Equipment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
By Product type
By Category
By Ownership
By Regions
The post Agricultural Equipment Market 2021 Outlook, Current and Future Industry Landscape Analysis 2030 appeared first on Industry News Analsis.
The article analyzes the agricultural equipment market's growth and trends from 2021 to 2030.
COVID-19 caused supply chain disruptions and labor shortages, affecting market demand.
AR technology is being used to address agricultural challenges and is seen as a future game-changer.
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